Nine Mistakes People Make When Selecting Oil & Gas Software – Part 2

Ever had one of those moments when your brain entirely shuts down and you forget something really important you were supposed to do or say or where you were supposed to be? I confess, I have those often. This post is a reminder. You’ll notice from the title that it is Part 2 of a series. The unfortunate brain part comes in when you find out that Part 1 was posted in August last year….and I just discovered this week that I forgot to post part 2, oh say, eight months ago.

6. They don’t let the software company talk with their employees. Perhaps it’s because you don’t want to give any company the upper hand in this evaluation process, or maybe you just don’t want them mingling with your company, either way, companies often keep software companies at an arm’s length away – which can really hurt the decision process.

Choosing a software vendor – like an oil and gas accounting software vendor, in our case, is comparable to getting married. You’re likely to be together for an extended amount of time for better or worse, so you want to build a relationship with them first, before jumping headlong into a commitment. Let the software company ask you questions and get an idea of how your business runs. This will help them understand how to help you better, get to know how they work as a company and show any red flags beforehand if something can’t be addressed the way you need it to, or if you don’t get along.

7. They only focus on the basic principles of the software. Don’t spend all your time evaluating standard features such as how the accounting works, how owners, wells and leases are handled, etc. You should be able to assume that any reasonable system can handle the standard functions of oil and gas accounting and distribution if that is what the foundation is built upon. Instead, focus on the processes that you will need to differentiate your business and things specific to how you operate. Find out how the software would solve that problem, or task, etc.

8. They forget to consider how things will work as their business grows and expands. The software product you’re deciding on might look nice and pretty at this moment, but you also want a product that is flexible and can grow with you and handle your needs. Make sure the product won’t just grow in the future – but is one that can already handle needs and companies as large as you hope to become one day.

9. Set a definite timeline for when you want to select new software. By not making the software evaluation process a formal affair, too much time ends up being wasted by not having a deadline set for when you want to make a decision. With a goal to work towards and an end in sight, you can save time money and avoid dissatisfaction, confusion and making a hasty decision that you’ll regret, whether you choose to purchase the product or not.